American Hotel Income Properties REIT LP Announces Departure of Chief Financial Officer; Appoints Interim CFO

March 19, 2021 7:30 AM EDT

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VANCOUVER, BC, March 19, 2021 /PRNewswire/ - American Hotel Income Properties REIT LP ("AHIP" or the "Company") (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U) announced today the departure of Azim Lalani, Chief Financial Officer ("CFO"), to pursue other opportunities effective March 18, 2021.

"I would like to thank Azim for his diligent work and greatly appreciate all his contributions through his tenure at AHIP," said Jonathan Korol, Chief Executive Officer. "He was integral in growing the Company, strengthening its balance sheet and building out our accounting and finance team.  On behalf of AHIP's Board of Directors and management, we wish him the best in his future endeavours."

"It has been a privilege to work alongside the entire AHIP team and to have been a part of the Company's growth story," said Mr. Lalani. "I am confident that AHIP will remain on a solid path forward."

The Company will be initiating a broad search for a new CFO immediately, including external candidates.  Anne Yu, AHIP's Vice President, Finance, will act as interim CFO.

ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP

American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties across the United States. AHIP's 78 premium branded, select-service hotels are located in secondary metropolitan markets that benefit from diverse and typically stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG and Choice Hotels through license agreements.  The Company's long-term objectives are to build on its proven track record of successful investment, deliver U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio. More information is available at www.ahipreit.com.

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SOURCE American Hotel Income Properties REIT LP



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